Stock-Based Compensation (Tables)

12 Months Ended

Jun. 30, 2020

Share-based Payment Arrangement [Abstract]

Weighted average assumptions

We utilized the Black-Scholes option valuation model with the following weighted average assumptions:

	Year Ended June 30,
	2020		2019		2018
Risk-free interest rate	1.5	%	2.8	%	1.7	%
Expected dividend yield	None		None		None
Expected life (in years)	4.5		4.6		4.6
Expected volatility factor	26.8	%	26.6	%	28.0	%

Stock-based compensation expense

The stock-based compensation expense and its classification in the accompanying consolidated statements of operations for fiscal 2020, 2019 and 2018 was as follows:

	Year Ended June 30,
	2020		2019		2018
	(Dollars in Thousands)
Recorded as expenses:
Cost of maintenance	$	1,441	$	1,282	$	559
Cost of service and other	1,961		1,420		920
Selling and marketing	5,656		4,849		3,862
Research and development	8,306		6,923		7,617
General and administrative	14,184		13,099		9,730
Total stock-based compensation	$	31,548	$	27,573	$	22,688

Stock options and RSU activity

A summary of stock option and RSU activity under all equity plans in fiscal 2020 is as follows:

	Stock Options							Restricted Stock Units
	Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value (in 000's)		Shares		Weighted Average Grant Date Fair Value
Outstanding at June 30, 2019	1,304,017		$	60.33	6.94	$	83,388	793,718		$	98.38
Granted	297,859		133.00					266,514		133.35
Settled (RSUs)								(263,136	)	84.30
Exercised	(154,168	)	46.31
Cancelled / Forfeited	(37,569	)	99.00					(444,175	)	116.46
Outstanding at June 30, 2020	1,410,139		$	76.19	6.67	$	49,705	352,921		$	112.45
Exercisable at June 30, 2020	977,190		$	59.86	5.87	$	45,976
Vested and expected to vest at June 30, 2020	1,364,448		$	74.94	6.61	$	49,308	291,775		$	112.33